what happens if i default on a payday loan? It is now being handled by legal mediation services. The guy keeps telling me that I will get served at my house or place of employment. He says i have until 3pm Texas time to repay the full amount. I asked what the consequences were if i could not come up with the money, but he would not tell me. Could I got to Jail? Could my wages be garnished? Please any help would be greatly appriciated!!!